[Korea hyerin nine financial newspaper reporter] yesterday entered a weakness again, Hyundai's share price hit a singoga. As the background of the price surge was expected to switch to a holding company of Hyundai Group, market participants are keen to whether the Group's corporate governance restructuring.
AM 10 40 minutes 22 date, the securities market, Hyundai is 0.59% compared to the previous trading day (1000 W) are trading down to ₩ 169,000. The depreciation of 11 trading days.
Hyundai Motor said yesterday that a renewed surge singoga more than 8%, intraday ₩ 170,500.
Daishin Securities Feynman Jeon Institute 'holding company transition anticipation, Park Geun-hye impeachment cited since been relatively price merit of Foreign demand concentrated in a high car from Korea expectations and Kospi are close to 2200 points situation for a discount eliminate' said, 'industrial surge background There was no 'he explained. In addition, he said "It is news to form a holding company switched expectations from the new March 21 did not, but was cited two euros," adding that "March 17 to analyze the brand fee received disclosure as a precursor of the holding company transition is difficult to judge."
It is interpreted that'm not suggesting that Hyundai is the holding company transition contracted 13.9 billion won this year to receive royalties from the brand Hyundai Steel, Hyundai Glovis.
On the other hand, there is also a view that the governance reform to proceed more secure shareholder control.
By Mirae Asset Daewoo upright researchers' due to the current debate governance policy changes under Hyundai Motor Group is not high is imperative to come off the governance reform ', but' the need or controlling shareholders of the current governance dependent on future cross-shareholding depending on the need for an additional control for securing expect the governance reform progress, he said.
The researchers explain that positive impact is whether the amendment of the Commercial Code regulating the use treasury stock when you are discussing holding company in the National Assembly passed on directly to the Hyundai-Kia Automotive Group's corporate governance reform is limited. Because at the Hyundai-Kia Automotive Group's corporate governance within the treasury share reserve of Hyundai Mobis, Hyundai Motor, Kia Motors for the main three companies is lowered to single digit is not high dependence on treasury utilization. A total of three major stake in all four groups are present in the 30% level required to be secured dominance is another reason.
On the other hand, the need for circulation contribution eliminated is judged high. Information Institute said "Last September, the existing cross-shareholding is also Fair Trade Act amendment that imposes to solve within a certain period of time (3 years) (choeunyeol lawmakers, including 24 in) this initiative, the National Assembly Affairs under the Commission pending ', of' cross-shareholding stricter regulations It is quite taxing current governance structure of the Hyundai-Kia Automotive group uncertainty was evaluated to be true. "
Meanwhile, Samsung, Lotte already most of the group discussions on cross-shareholding control in the candidate-specific policy commitments for the last 18 improvement presidential election unlike governance and complete proceeding much of the shrink operation to the existing cross-shareholding itself is inactive status.
Chung added that the researchers "have recently been suggesting alternatives presented minimize side effects by inducing voluntary resolved through direct voting rights restrictions than the existing restrictions on cross-shareholding.
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